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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1505 Kansas Ave Topeka, KS 66612-1304

    • Strip malls
    • 5,813 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US33-1012639
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1505 Kansas Ave

    Year built
    1960
    Construction
    FRAME
    Lot size
    0.24 lot acres
    Property size
    5,813 SF
    Zone code
    C4
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    133-06-0-20-26-025.00
    APU
    133060202602500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Topeka
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.679
    Latitude
    39.0395
    CBSA code
    45820
    CBSA name
    TOPEKA, KS METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,901
    $0.00
    $0.00
    $12,701
    -
    $0.00
    $0.00
    $50,800

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      820 Kansas Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      820 Kansas Ave, Topeka, KS 66612-1203
      View Details
    • Value Estimation by Request
      2,400 SF

      1211 Kansas Ave

      BAR, TAVERN • 2,400 SF
      1211 Kansas Ave, Topeka, KS 66612-1330
      View Details
    • Value Estimation by Request
      0.13 Acres

      600 10th Ave

      FINANCIAL BUILDING • 0.13 Acres
      600 10th Ave, Topeka, KS 66612-1616
      View Details
    • Value Estimation by Request
      0.26 Acres

      225 12th St

      GYM, HEALTH SPA • 0.26 Acres
      225 12th St, Topeka, KS 66612-1345
      View Details
    • Value Estimation by Request
      1.38 Acres

      1110 Monroe St

      PARKING LOT • 1.38 Acres
      1110 Monroe St, Topeka, KS 66612
      View Details
    • Value Estimation by Request
      0.17 Acres

      Tyler St

      FINANCIAL BUILDING • 0.17 Acres
      Tyler St, Topeka, KS 66612
      View Details

    Similar Nearby for Sale

    • $50,000
      Pending

      Downtown Topeka Commercial Building Opportunity

      Commercial building with apartments, ideal for revitalization projects.
      1417 S Kansas Ave, Topeka, KS 66612
      View Details
    • $85,000
      0.27 Acres

      Tyler Street Parking Lot Investment

      Prime Topeka Parking Lot - $85,000
      1318 Tyler St, Topeka, KS 66612
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    • $85,000

      Topeka Commercial Parking Lot

      Prime corner lot near downtown Topeka and state capitol.
      1272 SW Harrison St, Topeka, KS 66612
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    • New
      $225,000
      0.59 Acres

      Topeka Commercial Corner Lot

      Prime commercial lot with high visibility and traffic in Topeka.
      S Kansas Ave, Topeka, KS 66612
      View Details
    • $250,000
      0.38 Acres

      Downtown Topeka Commercial Land

      Six prime commercial lots, ideal location.
      1710 Harrison St, Topeka, KS 66612
      View Details
    • $189,900
      0.16 Acres

      Topeka Multifamily Investment Opportunity

      Multifamily property with income potential in Topeka, Kansas.
      1504 SW Polk St, Topeka, KS 66612
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,293 SF

      Downtown Topeka Retail Space

      Prime location, 1,293 sq ft, single tenant.
      825 Kansas Ave, Topeka, KS 66612
      View Details
    • $17 SF/Yr
      5,590 SF

      Marburg Building: Prime Corner Location

      Restaurant/Retail Opportunity, High Traffic Area
      500 10Th Ave, Topeka, KS 66612
      View Details
    • $22 SF/Yr
      136,228 SF

      Evergy Tower: Downtown Topeka Office Space

      High-rise office, prime downtown Topeka location.
      818 Kansas Ave, Topeka, KS 66612
      View Details
    • $20 SF/Yr
      134,000 SF

      Downtown Topeka Office Space

      Class A Office, 12,200 - 134,000 SF
      823 Quincy St, Topeka, KS 66612
      View Details
    • $19 SF/Yr
      1,610 SF

      Downtown Topeka Office Space

      Prime Office Suite, 1,610 sq ft Available
      825 Kansas Ave, Topeka, KS 66612
      View Details
    • $13 SF/Yr
      1,500 SF

      Topeka Office Space For Rent

      Office space available for lease in Topeka, Kansas.
      1122 SW 10Th Ave, Topeka, KS 66612
      View Details
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    1505 Kansas Ave
    Topeka, KS 66612-1304
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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